ACTIVE

SOREX IMMO

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Financial year 2025 · closed on 31/12/2025

Net result

-31,6 k €

-28.6% YoY

Gross margin

-10,8 k €

-167.7% YoY

Equity

109,4 k €

-22.4% YoY

What does SOREX IMMO do?

SOREX IMMO is a Public limited company incorporated in 1990. Its registered office is in Waterloo.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0442.516.671

Incorporation

21/12/1990

Legal form

Public limited company

Registered office

Chemin des Postes 151a
1410 Waterloo · WallonieSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Joint committees (2)

Signals

Solid equity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-10,8 k €	-168%	-4 k €	-119%	21,2 k €	-63.9%	58,7 k €	+28.7%	45,6 k €	+13.8%	40,1 k €	-19.9%	50,1 k €	+13.7%	44 k €	+8.7%	40,5 k €	+6.9%	37,9 k €	-37.4%	60,5 k €	-28.5%	84,6 k €	+65.0%	51,3 k €	+254%	14,5 k €	-91.4%	168,9 k €	-52.9%	358,6 k €	+32.1%	271,4 k €	-37.1%	431,5 k €	-12.0%	490,2 k €	+23.5%	396,8 k €
EBITDA	-17,4 k €	-95.4%	-8,9 k €	-154%	16,5 k €	-71.8%	58,4 k €	+28.9%	45,3 k €	-17.3%	54,7 k €	+10.1%	49,7 k €	+13.8%	43,7 k €	+24.2%	35,2 k €	-1.0%	35,5 k €	-44.8%	64,4 k €	-8.0%	70 k €	+91.2%	36,6 k €	+88.3%	19,4 k €	-49.9%	38,8 k €	-59.7%	96,3 k €	+1283%	-8,1 k €	-116%	52,3 k €	-38.0%	84,3 k €	-20.1%	105,6 k €
Operating result	-31,5 k €	-27.8%	-24,7 k €	-2117%	1,2 k €	-97.2%	44,1 k €	+30.9%	33,7 k €	+1.0%	33,3 k €	+10.8%	30,1 k €	+31.2%	22,9 k €	+144%	9,4 k €	-13.5%	10,8 k €	-67.9%	33,8 k €	-15.5%	39,9 k €	+400%	8 k €	+63.9%	4,9 k €	-77.9%	22 k €	-35.8%	34,3 k €	+150%	-68,9 k €	-461%	-12,3 k €	-649%	2,2 k €	-89.8%	21,8 k €
Net result	-31,6 k €	-28.6%	-24,6 k €	-3441%	735,5 €	-97.5%	29,7 k €	+30.3%	22,8 k €	+2.1%	22,3 k €	+19.2%	18,7 k €	+36.1%	13,7 k €	+157%	5,4 k €	-34.5%	8,2 k €	-69.8%	27,1 k €	+8.1%	25 k €	+291%	6,4 k €	+30.5%	4,9 k €	-70.2%	16,5 k €	+11.9%	14,7 k €	+66.0%	8,9 k €	+136%	-24,6 k €	-134%	-10,5 k €	-392%	3,6 k €
Balance sheet
Equity	109,4 k €	-22.4%	141 k €	-31.3%	205,3 k €	+0.4%	204,6 k €	+17.0%	174,9 k €	+15.0%	152,1 k €	+17.2%	129,8 k €	+16.8%	111,1 k €	+14.1%	97,4 k €	+5.8%	92 k €	-60.6%	233,9 k €	+9.9%	212,8 k €	+9.8%	193,8 k €	+0.2%	193,4 k €	+2.6%	188,5 k €	+9.6%	172 k €	+9.3%	157,3 k €	+6.0%	148,5 k €	-14.2%	173,1 k €	-5.7%	183,6 k €
Total assets	179,1 k €	-2.6%	184 k €	-12.0%	209,1 k €	-1.4%	212,1 k €	+10.4%	192,2 k €	+10.2%	174,4 k €	-9.0%	191,7 k €	-1.6%	194,9 k €	-8.4%	212,7 k €	-17.4%	257,5 k €	-7.6%	278,6 k €	-17.8%	338,8 k €	+4.8%	323,3 k €	-22.4%	416,5 k €	-27.0%	570,7 k €	-14.4%	666,8 k €	-8.0%	725 k €	-5.0%	762,9 k €	-10.6%	853,7 k €	-6.7%	915 k €
Cash	4 k €	-91.0%	44,3 k €	-31.8%	65 k €	-3.2%	67,1 k €	+93.9%	34,6 k €	+3444%	976,6 €	-91.9%	12,1 k €	+261%	3,3 k €	+769%	385,5 €	-92.2%	4,9 k €	-86.2%	35,8 k €	-45.9%	66,1 k €	+4680%	1,4 k €		–		1,6 k €	-95.5%	36 k €	+123%	16,2 k €	-65.9%	47,5 k €	+27.3%	37,3 k €	-2.5%	38,2 k €
Debts	69,1 k €	+63.4%	42,3 k €	+1267%	3,1 k €	-54.8%	6,8 k €	-58.0%	16,3 k €	-27.0%	22,3 k €	-51.7%	46,2 k €	-32.8%	68,7 k €	-31.5%	100,3 k €	-35.1%	154,4 k €	+372%	32,7 k €	-69.7%	107,9 k €	-6.6%	115,6 k €	-47.0%	218,1 k €	-40.6%	367,3 k €	-23.1%	477,8 k €	-15.8%	567,7 k €	-7.6%	614,5 k €	-9.7%	680,6 k €	-7.0%	731,4 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		2,3 ETP	-54.9%	5,1 ETP	-8.9%	5,6 ETP	-25.3%	7,5 ETP	-13.8%	8,7 ETP	+27.9%	6,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 19 ended

Active mandates

Bernard DELWART

Director · since 24 octobre 2025

Active

Kévin KEUSTERMANS

Director · since 24 octobre 2025

Active

Pascaline DELWART

Managing director · since 24 octobre 2025

Active

Roland de Bargigli

Director · since 22 septembre 2023 · until 24 octobre 2025

Active

Ended mandates

Roland de Bargigli

Managing director · since 22 septembre 2023

Ended

Gaëlle de Bargigli

Director · since 21 mai 2017 · until 21 mai 2023

Ended

RAPHAELLE DE BARGIGLI

Director · since 21 mai 2017 · until 21 mai 2023

Ended

Roland de Bargigli

Managing director · since 21 mai 2017 · until 21 mai 2023

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/08/2026	30/07/2025	24/07/2024	23/08/2023	29/06/2022	03/06/2021
General meeting	30/06/2026	30/07/2025	23/07/2024	24/07/2023	25/06/2022	15/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	30/06/2026	28/08/2026	French	PDF
Micro model	31/12/2024	30/07/2025	30/07/2025	French	PDF
Micro model	31/12/2023	23/07/2024	24/07/2024	French	PDF
Micro model	31/12/2022	24/07/2023	23/08/2023	French	PDF
Micro model	31/12/2021	25/06/2022	29/06/2022	French	PDF
Micro model	31/12/2020	15/05/2021	03/06/2021	French	PDF
Micro model	31/12/2019	21/05/2020	03/11/2020	French	PDF
Micro model	31/12/2018	21/05/2019	20/06/2019	French	PDF
Micro model	31/12/2017	21/05/2018	17/06/2018	French	PDF
Micro model	31/12/2016	21/05/2017	28/06/2017	French	PDF
Abridged model	31/12/2015	08/04/2016	14/05/2016	French	PDF
Abridged model	31/12/2014	22/05/2015	15/06/2015	French	PDF
Abridged model	31/12/2013	19/06/2014	30/06/2014	French	PDF
Abridged model	31/12/2012	18/06/2013	20/06/2013	French	PDF
Abridged model	31/12/2011	30/06/2012	29/08/2012	French	PDF
Abridged model	31/12/2010	22/06/2011	28/06/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	27/05/2011	French	PDF
Abridged model	31/12/2008	30/06/2009	30/07/2009	French	PDF
Abridged model	31/12/2007	30/06/2008	06/08/2008	French	PDF
Abridged model	31/12/2006	29/06/2007	06/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 19 ended

Active mandates

Bernard DELWART

Director · since 24 octobre 2025

Active

Kévin KEUSTERMANS

Director · since 24 octobre 2025

Active

Pascaline DELWART

Managing director · since 24 octobre 2025

Active

Roland de Bargigli

Director · since 22 septembre 2023 · until 24 octobre 2025

Active

Ended mandates

Roland de Bargigli

Managing director · since 22 septembre 2023

Ended

Gaëlle de Bargigli

Director · since 21 mai 2017 · until 21 mai 2023

Ended

RAPHAELLE DE BARGIGLI

Director · since 21 mai 2017 · until 21 mai 2023

Ended

Roland de Bargigli

Managing director · since 21 mai 2017 · until 21 mai 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/01/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates21/11/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates26/09/2017
DEMISSIONS, NOMINATIONS
PDF
Capital / shares02/01/2017
OBJET - CAPITAL, ACTIONS - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates10/06/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates09/12/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates10/04/2012
DENOMINATION - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates23/08/2011
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-31,6 k €↓
2024
Annual accounts 2024-24,6 k €↓
2023
Annual accounts 2023735,5 €↓
2022
Annual accounts 202229,7 k €↑
2021
Annual accounts 202122,8 k €↑
2020
Annual accounts 202022,3 k €↑
2019
Annual accounts 201918,7 k €↑
2018
Annual accounts 201813,7 k €↑
2017
Annual accounts 20175,4 k €↓
2016
Annual accounts 20168,2 k €↓
2015
Annual accounts 201527,1 k €↑
2014
Annual accounts 201425 k €↑
2013
Annual accounts 20136,4 k €↑
2012
Annual accounts 20124,9 k €↓
2011
Annual accounts 201116,5 k €↑
2010
Annual accounts 201014,7 k €↑
2009
Annual accounts 20098,9 k €↑
2008
Annual accounts 2008-24,6 k €↓
2007
Annual accounts 2007-10,5 k €↓
2006
Annual accounts 20063,6 k €
21/12/1990
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

SOREX IMMO

Overview

What does SOREX IMMO do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline